How to Finance Your First Multi Family Property

Everyone talks about deals and cash flow but not about financing. On this week’s Multi Family Mentors Live, Chris Lopez discusses how to finance your first multi family. He’ll cover the basics for house hacking, buying 2-4 rentals, and apartment building financing.

Join us live at 2:00 PM MDT on Thursday 5/27.

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About the Multi Family Mentors Show:
This show is about all things multi family. Terrance Doyle and Chris Lopez interview top experts from around the country to find out how they operate and invest in the multi family space. Guests include operators, lenders, brokers, property managers, capital raisers. Basically, all players involved in multi family.

Connect with Chris and Terrance:
Chris Lopez

Terrance Doyle

[scottcarrick]

As a long-time listener to the BiggerPockets podcast who has gone from zero units to 5 (one duplex one triplex, both house hacked) in the last year and a half, the Multifamily Mentors show has quickly jumped to the top of my list. I am looking to get into larger multifamily deals, and have already learned a lot listening to the show.

One clarification to the question about FHA loans on a second home. I house hacked my first duplex with traditional financing and was then able to buy my triplex 13 months later with an FHA loan. So if the question is 'can you only use an FHA loan if you have never bought a home before?' the answer is no: you can use an FHA for a second home. Of course, it does need to be owner-occupied.

[allentracy]

This was great! Amazing to see real world numbers and examples on a spreadsheet like that.

[danwickramasinghe]

Nice video, got a good overview of the available financing options :)

[ESCAPETHEMATRIX]

Definitely a lot of hard work saving up, especially in an expensive market, but totally worth it when it's all said and done ✅ keep up the great work !

[bernardcallands]

Could I do a 1031 exchange from a townhouse rental to a multi unit property?

[authenticglobetrotter]

Thank you so much for this video! I'm in the process of doing due diligence to purchase a duplex using a conventional loan and had no idea about the 15% down. I have an FHA on a now rental property and the tenant has interest in purchasing it at a later time but looks like I'll need that home to qualify for an FHA on the duplex! Thanks again!!

[candoallthings]

How’s the market right now? I keep hearing mixed things, is it bad or good?

[dubiousjesse]

Our current home is financed with a VA loan. Can I buy a SFR or Multi with VA loan as well?

[gabrielleon]

I know you're the professional here but I did research for a FHA 203k househack. You mentioned that a 3 or 4 unit would require a higher down payment, but I don't believe that's accurate. Think that's only for the HomeStyle renovation loans, which increase the down payment the more units you have. Correct me if I am wrong.